I would love to hear it.
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Replying to @mgirdley @Molson_Hart
"not everyone should be an entrepreneur" and "good entrepreneurs try to reduce risk" are both so obvious to me that I wouldn't have bothered mentioning them. Although perhaps it's not obvious to others. 1/X
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One thing that's less obvious is how reasonable goals change with the universe you're in. In this universe, it's practical for X% of people to become entrepreneurs. That number is far less for a peasant 4 centuries ago, and depends on many factors 2/X
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Some of those factors: availability of capital, cost of capital, realistic odds of success, career options. 99% of the people who "would become a founder no matter what" would be better off with a corporate job paying 5M/year in the counterfactual world where they could get it
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Replying to @avi_eisen @mgirdley
If they are better, it would only be financially.
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Replying to @Molson_Hart @mgirdley
No, I assert they would feel happier, rate their happiness *and* freedom higher in surveys, etc. This is assuming getting paid 5M while having the responsibilities of people paid around 250k in this world.
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Replying to @avi_eisen @Molson_Hart
Data is pretty clear that above 70k or so (location adjusted) generally doesn't correlate with any more happiness, right?
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Replying to @mgirdley @Molson_Hart
Another
@danluu article actually points out that this isn't true: https://danluu.com/dunning-kruger/ Here's the piece I mentioned in the other tweet, btw: https://danluu.com/startup-tradeoffs/ …2 replies 0 retweets 1 like -
I read the piece about working at a big company vs. doing a startup and while I think that the financial rewards of working at a big company are understated in the startup-bubble, this article feels biased against startups.pic.twitter.com/a0HoI1l3KC
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I'm quoting there, but I don't think it's unfair -- odds of getting extremely wealthy from joining a startup are < 0.5% IMO, so rounding to 0 seems ok.. And this has to be compared to taking a boring job at FB, where mid-band for "senior" is $360k/yr, "staff" is nearly $600k/yr.
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And of course, as with startups, a tail outcome is also possible. I know plenty of people pulling in > $1M/yr at big companies. I'm not saying people shouldn't do startups, but I don't think it makes sense to do it for the money. This may change with this recession, we'll see...
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I only had a problem with the language, which I learned was not yours, not the probabilities. There are a lot of variables that determine whether or not founding a startup makes sense; what if I want to be a billionaire? What if I can’t code? Yes to either disqualifies Google.
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Great point.
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